Australia's Citizenship by Investment program was introduced in December 2014. The Australian Government has announced it will invest $1 billion over four years to help people who want to become citizens through this route. An Aussie golden visa allows wealthy foreigners to immigrate to Australia without having to spend thousands of dollars on expensive lawyers or agents. This program is designed for people who want for example to invest in real estate, start businesses, open restaurants, or become doctors in Australia. The program is open to applicants who meet certain criteria, including being able to demonstrate they can contribute to Australia economically. Applicants must pay an upfront fee of AU$8,000 ($5,500), which includes an assessment of their eligibility. They then need to prove they have sufficient income to support themselves and their dependents. Applicants must also show they have lived in Australia for five years before applying for citizenship. This means they must either have been working in Australia for two years prior to their application or have held permanent residency for three years. Applicants must be aged between 18 and 65 when they apply. There are no restrictions on how much money an investor can put into the scheme. However, there is a cap on the amount of money they can earn in any one tax year. For example, if someone earns more than AU$2 million ($1.4 million) in a single year, they cannot claim any foreign earned income exclusion on their taxes. If an applicant does not qualify under these rules, they may still be able to get citizenship through other routes. For example, they could apply for a spouse visa, which would allow them to bring their partner to Australia. However, they would not be able to sponsor their children under the same visa. If you are interested in getting Australian citizenship, whether to work, study or simply travel, please check our detailed guide template below: Australia has always been known for its high standard of living and quality of life. The Australian economy is thriving thanks to its natural resources, agriculture, mining, manufacturing, services, education, healthcare, technology, tourism, and entertainment industries. The Australian government provides a wide range of benefits to its residents, such as free public transport, affordable housing, free university tuition, and generous welfare payments. Australian Citizenship by Investment Program offers foreigners the opportunity to invest in property and receive permanent residency status. This allows them to live and work in Australia permanently, through an investor visa. Benefits of Australian citizenship acquisition Australian Citizenship is a privilege that has been bestowed on people who have made an effort to become citizens. It is not something that can be taken away from you and there are many benefits associated with the process of becoming an Australian citizen. Australia is a country with a high standard of living. An Australian passport allows you to visa-free travel around the globe Citizenship grants access to quality health care, education, and other benefits. Family members of an immigrant can apply for citizenship if they meet certain requirements.
